Vodafone Idea has raised Rs 6,400 crore in a crucial funding effort, while expanding infrastructure-sharing talks with BSNL as it seeks to stabilise its financial position and boost network expansion.
Vodafone Idea has drawn the first Rs 6,400 crore of a wider fundraising effort as the cash-strapped telecom operator tries to steady its balance sheet and shore up spending on its network, chief executive Abhijit Kishore said during the company’s earnings call on Tuesday. The money comes from a mix of channels, including public sector banks led by State Bank of India, Indian private lenders and foreign banks through external commercial borrowings, with Rs 1,183 crore linked to warrant proceeds and the rest from debt funding and non-funded facilities, according to the company. Reuters has previously reported that the group has been under pressure to rebuild liquidity while it works through a heavy debt load.
Kishore said Vodafone Idea had made “substantial progress” with lenders across all three funding streams and continues to pursue additional support. That effort comes as the company seeks to widen its financial runway at a time when it still faces large statutory liabilities. The Economic Times reported this week that the Department of Telecommunications has finalised the operator’s adjusted gross revenue dues at ₹64,046 crore as of December 31, 2025, lower than earlier estimates, and allowed staggered repayment beginning in FY32.
The company is also deepening an infrastructure-sharing arrangement with state-run Bharat Sanchar Nigam Ltd. Vodafone Idea and BSNL have already been sharing some 4G and 5G towers, and the talks have expanded to include more areas such as towers, fibre and possibly spectrum, according to LiveMint and telecom industry reports. The Department of Telecommunications has also flagged potential cooperation in artificial intelligence, cloud, edge infrastructure, data centres and enterprise services, a sign that both operators are looking for lower-cost ways to extend coverage and improve competitiveness.
Vodafone Idea’s latest quarterly numbers offered a mixed picture. The company reported revenue of Rs 11,689 crore for the quarter and EBITDA of Rs 5,034 crore, both above Zee Business estimates, while its net loss narrowed to Rs 3,754 crore. Average revenue per user rose to Rs 195 from Rs 190 in the previous quarter, suggesting some improvement in monetisation even as the operator remains under intense financial strain. Separately, Mint reported that the company has sketched out a roadmap to generate and secure more than ₹1.08 trillion in cash over three years, underscoring how central funding remains to its turnaround plan.
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